The bill containing fund regulations became law

Pursuant to the relevant provision of the Capital Markets Law, the aim of the law is to regulate the procedures and principles regarding the fair, transparent and effective liquidation of investment funds that were decided to be liquidated by the decisions of the Capital Markets Board (CMB) dated September 17, 2026, whose liquidation was not completed on the date of publication of this regulation, the recovery of values ​​illegally removed from the assets of these funds, the collection of fund losses and damages from those responsible, and the payment of the recovered values ​​to the fund shareholders.

The provisions of the law will not create a general or permanent liquidation and liability regime for investment funds other than those specified.

On the other hand, some definitions and abbreviations within the scope of the regulation are also subject to provision.

According to the provision of the regulation titled "General principles regarding the execution of liquidation and determination of fund shareholding", the liquidation of the funds will be carried out by the institutions in charge of liquidation, under the supervision and control of the CMB. The Board will be authorized to determine the stages of the liquidation process, the determination and conversion of fund assets into cash, valuation principles, the method of determining fund shareholding, interim and final payment, distribution order and other procedures and principles regarding liquidation.

Institutions tasked with liquidation will take due care in order to obtain the highest possible economic value by taking into account the interests of investors, the market conditions of the relevant asset and fund portfolio structures, the protection of fund assets and the common interest of fund shareholders.

In cases where the Board determines that the price formed in the stock exchange does not reflect the real value of the relevant asset or will delay the liquidation, the Board may decide to temporarily apply a different price margin through buyback, right to sell to the controlling shareholder, wholesale and special transaction notification methods in liquidation transactions and to use other methods included in the capital markets legislation and the Stock Exchange legislation.

The Board may approve the sale of relevant assets outside the Stock Exchange upon the request of the institutions responsible for liquidation. In terms of sales transactions to be made within this scope, the restrictions in the Board's regulations regarding investment funds will not be applied.

The Board may decide that investors who will purchase assets through sales on or off the Stock Exchange cannot sell the assets subject to this transaction on the Stock Exchange for a certain period of time and cannot take any action that will result in the sale of these assets on the Stock Exchange.

Source: TRT Haber Açık RSS (Gündem) (Open Press / Translated Full Text)